Buying a home is a sizable financial investment, and it is important to know the right time to do so. Apart from looking at the performance of the real estate sector at large, experts recommend that investing in a home in your 30s may be a wise financial decision.
Here are 3 important reasons why it’s a good idea to invest in a home in your 30s:
Investing early is a good practice: Any financial advisor is likely to tell you that investing early is a highly beneficial practice, and it always pays off. If you’re in your 30s, you have a long time to go until retirement, which means that you have enough years in service to pay for your home. And if you’re saving efficiently, you can easily have enough cash at your disposable for the down payment.
You can generate more income: Once you have purchased a home, you can use it as a source of additional income by leasing it out. This income can effectively be used for paying off the loan and other related bills. Alternatively, you can save on your own rental expenditure (which adds up to a fair bit in the long run) by moving into your own house. It’s best to do this as early in your career as possible.
Buying a home now can save you money in the long run: This is an especially important point to factor in. The real estate prices are currently very favourable to buyers, which makes this the best time to invest. There’s nothing more ideal than making a risk-free home purchase in your 30s. The real estate prices are expected to appreciate steadily in the years to come, and the returns on investment look promising.
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